Multifamily properties (2-4 units) can be a great way to build your portfolio while minimizing risk—especially with FHA or conventional low-down-payment options.Also, networking is huge.

I have found that the profit margins are very low in this model if the house is in a C/D neighborhood because you are limited to the amount of rent you can charge for each room.

Bank Recommendations:Chase and Bank of America are popular because of their extensive business banking features and integrations with bookkeeping tools.Smaller community banks or credit unions can offer more personalized service and lower fees, but make sure they support series LLCs.Online banks like Novo or Mercury are great for tech-savvy users who want low fees and easy online management.What to Watch Out For:Hidden fees for transactions or deposits.Limitations on the number of accounts or ACH payments.Difficulty in maintaining clear separation between the series, which could risk the limited liability protection of your LLC.Since you’re using a Series LLC structure, it’s crucial to keep each property’s finances completely separate to maintain liability protection.

However, looks like there is a harsh line as far as what locals can afford and if you go over that, vacancy is high.Watertown, NY- I’ve seen many great multi-family properties in the low to mid 100s.

The chances that you currently live in a city meeting all these criteria are low.

BUT The points they charge and interest are both way higher than normal, on some deals I ran numbers the points and interest were going to be 20k on properties where the ARV is 100k so you have to get properties at such a low price to make it work that it is so hard.

This property in Anderson, IN had strong potential due to its low purchase price of $60,000 and a promising after-repair value.

I would greatly appreciate it.Thanks,SG There are lenders out there either with low LTV or high fees  pick your poison

The carrying costs are low, but tenant was making partial payments by month 2.

I see too many investors now, put a significant amount of money in rehab costs and over leverage themselves on hard money loans with low down payments, their properties are not selling and they are lucky to just payoff their current hard money loan via a DSCR refinance.